The COVID-19 pandemic has triggered the severest recession in nearly a century. Given the highly uncertain path to recovery, the OECD presents two possible scenarios: one in which the current virus surge is brought under control, and another one in which a second global wave hits before the end of 2020.

With or without a second wave, the effects of the coronavirus will be severe. For more info please visit: www.oecd.org/economic-outlook/june-2020

As governments address the Covid-19 crisis, they should seize the opportunity of historically low oil prices to redirect some of the half a trillion dollars spent annually supporting fossil fuels into sustainable investments including low-carbon energy, according to the OECD and the International Energy Agency (IEA).

The race is on to find a vaccine and treatments for Covid-19. Early efforts have shown promise, but there are many issues to address: ensuring international co-ordination, R&D, eventual manufacturing and, crucially, equitable distribution. Our OECD Policy Response explains the issues.

Following the introduction of COVID-19 containment measures across the world, real gross domestic product (GDP) in the OECD area fell by 1.8% in the first quarter of 2020, the largest drop since the 2.3% contraction in the first quarter of 2009 at the height of the financial crisis, provisional estimates show.